47,192 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by Seilern Investment Management Ltd

Seilern Investment Management Ltd acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 47,192 shares of the business services provider’s stock, valued at approximately $13,815,000. Automatic Data Processing comprises approximately 0.8% of Seilern Investment Management Ltd’s portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC grew its stake in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing in the 3rd quarter worth about $35,000. Finally, Kieckhefer Group LLC bought a new position in Automatic Data Processing in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.0 %

ADP opened at $296.18 on Monday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The firm’s 50 day simple moving average is $297.90 and its two-hundred day simple moving average is $280.29. The company has a market capitalization of $120.68 billion, a PE ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADP. UBS Group raised their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.